Jerusalem Water Corp. Buys Jerusalem Offices for $22 Million

The Jerusalem Water Corporation, Gihon, has purchased two and a half floors of office space in Jerusalem's Talpiot neighborhood for approximately 82.1 million shekels (about $22 million), including VAT. The acquisition, located in the 'Tnuafa Complex' project developed by Sofrin Group, encompasses roughly 4,657 square meters of gross office space, along with 49 parking spaces and storage areas. The purchased floors are the 19th, 20th, and half of the 21st.

The Tnuafa Complex, situated in the heart of Talpiot's commercial and employment hub on Pierre Koenig Street, is a large-scale project comprising around 57,000 square meters of retail and office space. It benefits from proximity to the light rail and major transportation routes. Sofrin Group has already sold about 69% of the spaces within the development.

Gihon Corporation serves as the water and sewage utility for Jerusalem, Mevaseret Zion, and Abu Ghosh, supplying water to approximately one million residents across a vast area and providing sewage services to over a million people in the Jerusalem region. The company's current offices are located a short distance away in Talpiot on Hebron Road.

Sofrin Group, founded in 2009 by the Sofrin family, specializes in residential, office, commercial, and logistics projects. The company went public in 2021 and is traded on the Tel Aviv Stock Exchange.